This is CBS, I On the World. I'm John Batchel. The New World Report, Professor Evan Ellis,

U.S. Army War College is here to help me through the Americas, and we come to something I understand,

but how it applies to the Americas is Chile, a state that is in the early stages of getting ready for a presidential

contest. President Borges cannot succeed himself. That's the Constitution in Chile. And we have this

from the Financial Times yesterday, followed up with a series of articles today. China's copper

supplies set to run out. That's right. According to this report,

China did not bring in enough copper to extend past June unless something is done. And the

tariff stories will I read from the FD. China's copper stockpiles are on track to dwindles

and nothing in just a few months as the market suffers, quote,

one of the greatest tightening shocks in its history on fears of U.S. tariffs.

This is the trading house in copper, huge U.S. demand as buyers rush to get their hands on copper ahead of the potential imposition of levies by the Trump

administration, sucking imports of the metal into the country into the U.S., from the rest of the

world and setting it up in competition with China for supplies. Why copper? Because without

copper, there are no EVs. Without copper, there are no iPhones. There are no

IMAX. There are no Nvidia chips. Without copper, we've become an 18th century power.

Professor, I did not see this. I can see that the copper market did not see it. Hence, the tightening

shocks, that's a way of the traders saying,

oh boy, we better get on both sides of this trade.

China didn't see it.

Otherwise, it would have laid in lots of copper.

What about Chile?

What about this presidential election?

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